The paperclip house swap

FOR struggling British first-time buyers it would be a dream come true – to turn an everyday household item into a roof over their head.

And thanks to a bright idea, a great deal of perserverance and the power of the internet, a Canadian 26-year-old has managed just that – trading one red paperclip for a house.

But while enterprising Kyle MacDonald, of Montreal, has taken a giant stride towards his goal, he is not quite there yet as the house is only his for a year.

Kyle set off on a quest last July to turn one red paper clip into a house, by swapping it for items that were bigger or better. Unable to afford to buy a house, he decided to work his way up in value until he had a roof over his head.

His latest trade saw him gain a one bedroom bungalow-style home, rent-free for 12-months in downtown Phoenix, Arizona, America, in return for a recording contract he had previously swapped for a 1995 Ford Cube Van.

Kyle wrote on his website: 'I'm pretty jazzed about this - my first foray into real estate. I so don't have any official real estate trading credentials or anything like that. I should probably get myself some business cards, a briefcase, and above all else, a carphone.'

The swift jump up the property ladder came after Kyle's quest seemed to have stalled slightly, with him holding on to the van for two months, however his dedication paid off and he has now made his first move into property.

It arrived after singer/songwriter Jody Gnant decided to give him a year's rent-free use of her apartment in exchange for time in a top-class recording studio and album production with professional engineers.

Kyle now plans to trade up to a house that he owns outright. His success has been built on catching the attention of the North American and global media with his oneredpaperclip website.

Kyle, who hopes one day to get a 'house, or an island, or a house on an island', initially traded his paperclip for a pen in Vancouver, the pen became a doorknob, which was then traded for a portable barbecue, subsequently exchanged for a generator that then became a full beer keg and neon Budweiser sign in New York.

Newspapers, television and radio caught up with Kyle and trades rapidly increased in size and with the arrival of a snowmobile, an all-expense three day trip to British Columbia and then the Ford van.